Sprint Vs. Marathon Selling
Unified principals, similar challenges, divergent strategy and approach.
In my extensive experience in the sales profession, I’ve navigated fast-paced transactional sales including media and niche digital solutions. Heck, I began my sales career working for a beer distributor which meant that everything I sold was based on price, promotion and volume.
I’ve also sold complex and integrated software solutions that require a much different approach to closing the deal. Having honed my skills in both arenas, this piece outlines some of the differences in approach and expectations of both types of sales and the unique challenges that each presents.
The Misconception of Sales
Let me start by saying that regardless of what you are selling, sales is an incredibly difficult job. Dealing with rejection and constantly overcoming a plethora of challenges can be a daunting way to make a living. Too many times in my career, I’ve heard co-workers complain about the sales team always traveling to cool locations, attending parties and dining with clients. This, with an overarching belief by some that sales is just schmoozing for a living. This could not be farther from the truth.
Beneath the surface of client dinners and “glamorous” travel lies a relentless pursuit of targets and the constant need to navigate complex human dynamics. Every successful deal is underpinned by countless hours of preparation and strategy all while continually feeling as if you’re rolling a boulder uphill. It's a career that demands not only a deep understanding of the product and market but also a mastery of interpersonal skills. The art of sales is much more than just 'schmoozing'; it's about building genuine relationships, understanding varying needs, and solving problems in real-time. This underappreciated side of sales is what truly defines the profession.
7 Principles - The Psychology of the Sale
What typically defines a successful seller hinges upon the psychology of the sale. The seven principles of persuasion, as identified by Dr. Robert Cialdini in his book "Influence," provides an understanding of how individuals psychologically respond during sales interactions. These principles are:
Reciprocity: The notion that people feel compelled to return favors or respond in kind to the actions of others.
Commitment: The tendency for individuals to stay consistent with their commitments or promises.
Liking: The principle that people are more likely to be persuaded by those they like or find agreeable.
Authority: The influence that perceived authority figures or experts have on decision-making.
Social Proof: The idea that individuals look to the behavior and actions of others to guide their own decisions.
Scarcity: The concept that limited availability or time can increase the perceived value of an item or service.
Unity: The principle that people are more easily influenced by those who share a sense of identity or belonging with them.
Within these 7 principles, there are nuances to how they are applied when it comes to transactional vs. enterprise sales. While both approaches fall under the umbrella of sales, they diverge significantly in their methods, objectives, and customer interactions. Enterprise selling, characterized by its strategic depth, long-term engagements, and complex decision-making processes, contrasts starkly with the swift, efficiency-driven world of transactional selling.
Transactional Sales
Diving first into the world of transactional sales, we find that speed and efficiency are mission critical to hitting your numbers. Here, sales professionals operate in a high-energy environment where decisions are made swiftly, and deals are closed rapidly. The essence of transactional selling lies in its ability to generate immediate results. Sales reps in this domain are adept at identifying customer needs on the fly and providing quick, effective solutions. Their proficiency lies not just in understanding the product but in aligning it instantly with the customer's current demands.
This type of sales is typically (not always) characterized by higher volumes of quicker deals, each contributing to a consistent flow of revenue. The agility of the salesperson is paramount, as they maneuver through a series of rapid interactions, each presenting a distinct chance to clinch a sale. In transactional sales, the adage 'time is money' is taken literally, with each minute being a step towards or away from a potential deal. It's a dynamic environment where adaptability matters, and the ability to pivot quickly can mean the difference between success and failure. The transactional sales process is akin to a high-speed chess game where strategic thinking must be coupled with quick moves, and the ability to anticipate the opponent's next move is invaluable.
Enterprise Sales
When embarking upon an enterprise sale, we enter a territory where strategic depth and long-term vision are paramount. In this complex landscape, sales cycles are not measured in days or weeks, but oftentimes months and even years. Enterprise sales professionals are not just selling a product or service; they are architects of bespoke solutions that address intricate business problems. Success hinges on their ability to foster deep, consultative relationships, understanding not just the immediate needs but the overarching business goals of their clients. This approach demands a firm grasp of the client's industry, a keen insight into organizational dynamics, and the foresight to anticipate future challenges and opportunities.
The intricacies of enterprise sales also involve navigating a network of multiple stakeholders, each with their unique perspectives and influence. Sales reps in this field must master the art of aligning diverse interests, often negotiating and renegotiating terms as project scopes evolve. The complexity of these deals requires a blend of patience, persistence, and adaptability. It's a world where each interaction is part of a longer narrative, a journey towards building not just a sale but a lasting partnership. The stakes are high, but so are the rewards: successful enterprise sales lead to significant, long-lasting engagements anchored in a passion for delivering the required business outcomes that drive your client’s ongoing success.
My Personal Preference
Hands down, enterprise sales. For me, this stems from a deep-seated passion for solving complex problems and deep relationship building. In enterprise sales, each client engagement is akin to a multifaceted puzzle, requiring a thorough understanding of very specific business needs and the ability to craft tailored solutions. This environment allows me to delve into the depths of a client's current and future challenges while unraveling their organizational dynamics.
I find gratification in aligning diverse interests and negotiating terms that evolve with the scope of projects. The prolonged sales cycles in enterprise environments provide an opportunity to develop enduring partnerships, positioning me not just as a sales professional but as a trusted advisor. This depth of engagement, the intellectual rigor involved, and the potential for significant, long-lasting business impact are what make enterprise sales immensely rewarding to me.